Finding 1164382 (2025-002)

2025-002 Reportable Condition – Internal Control: Criteria: The Tenant Security Deposit account does not reconcile to the bank reconciliation. Condition: The Project did not properly prepare the bank reconciliation. Questioned cost: None Context: Occurring within the current accounting period. Cause: Management lack of monitoring. Effect: The Tenant Security Deposit account is not reconciled. Recommendation: Bank reconciliations should be completed and approved in a timely manner. Repeat finding: No Views of responsible official and planned corrective action: The current management agent concurs and will take immediate corrective action.